Lockheed Martin (NYSE:LMT) Sets New 52-Week High at $568.73

Shares of Lockheed Martin Co. (NYSE:LMT) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $568.73 and last traded at $567.19, with a volume of 100709 shares. The stock had previously closed at $560.41.

Analyst Ratings Changes

A number of brokerages have issued reports on LMT. Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $500.00 to $600.00 in a research report on Monday, August 5th. Bank of America upgraded shares of Lockheed Martin from a “neutral” rating to a “buy” rating and increased their price objective for the company from $465.00 to $635.00 in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the stock from $540.00 to $600.00 in a report on Friday, July 26th. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price target for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $541.85.

Lockheed Martin Price Performance

The business’s 50 day simple moving average is $510.22 and its 200-day simple moving average is $471.88. The stock has a market capitalization of $135.97 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same period in the prior year, the company posted $6.73 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts anticipate that Lockheed Martin Co. will post 26.71 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Lockheed Martin by 130.0% in the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after buying an additional 2,019 shares during the period. Warther Private Wealth LLC boosted its position in shares of Lockheed Martin by 86.1% during the 4th quarter. Warther Private Wealth LLC now owns 16,369 shares of the aerospace company’s stock valued at $7,419,000 after purchasing an additional 7,575 shares in the last quarter. Morningstar Investment Services LLC grew its stake in shares of Lockheed Martin by 99.6% in the 4th quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock worth $66,697,000 after purchasing an additional 73,774 shares during the last quarter. Brevan Howard Capital Management LP raised its holdings in shares of Lockheed Martin by 414.2% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock worth $3,228,000 after purchasing an additional 5,736 shares in the last quarter. Finally, New Mexico Educational Retirement Board lifted its stake in Lockheed Martin by 20.5% during the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after purchasing an additional 2,400 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Company Profile

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.